economy
February 20, 2026
US OFAC Extends License for NIS!
Photo: Wikimedia/U.S. Department of the Treasury, Shutterstock/Aleksandar C
TL;DR
- The U.S. Office of Foreign Assets Control (OFAC) extended NIS's license until March 20th.
- This extension allows NIS to continue operations, including crude oil import, refining, and market supply.
- The decision is crucial to avoid disruptions, particularly concerning the Janaf pipeline.
- NIS currently has a license valid until March 24th for negotiations on Russian ownership exit.
- Serbia's Minister of Mining and Energy will engage in diplomatic efforts for a solution regarding sanctions on NIS.
- The regional oil market faces significant disruptions due to geopolitical tensions and pipeline issues, including the Druzhba pipeline.
- Market instability persists despite refinery operations and existing supply.
- Increased consumption is expected in March and April, requiring market stability efforts.
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